What is the purpose of blockchain technology?

The purpose of blockchain technology is to provide a secure, transparent, and immutable method for verifying transactions. In addition to its use in the financial industry, the technology has the potential to revolutionize many other sectors such as healthcare, real estate, supply chain management, voting, and intellectual property management. With its decentralized structure, enhanced security, and low cost, blockchain offers the potential to increase efficiency and reduce fraud in a variety of industries.